ORLANDO, Fla., May 29, 2003 (PRIMEZONE) -- eMax Net, Inc., a subsidiary, signed a letter of intent to merge with its parent eMax Corporation (Pink Sheets:EMAX) on May 24, 2003. The merger consists of eMax Net shareholders exchanging all of their shares held in eMax Net, Inc. for shares of stock in eMax Corporation; in exchange for all rights and assets held by eMax Net. The transaction required the parent company to issue 17,000,000 shares of 144 common stock of eMax Corporation in exchange for eMax Net, Inc., which has a net equity value minimally of $8,500,000. To see the website under construction go to: http://www.emaxcorp.com.
About eMax Net, Inc.
eMax Net, Inc. owns the rights to market and distribute from a music library in excess of 17,000 songs, 300 computer software games, and over 800 video releases. eMax Net has poised itself to be a major contender in the family entertainment and media industries such as Walt Disney (NYSE:DIS), Paxson, Paramount, AOL/Time Warner (NYSE:AOL), and many other media companies which total over a $95 Billion industry as experts predicted for the year ending 2003. In 2001 eMax Net, Inc. launched the Internet portal, http://www.emaxnet.net, a family entertainment and media network that offers shopping, listening to music, playing games, researching and learning to include links for Homework Help, College Planning and Financial Aid. The family network http://www.emaxnet.net was founded to be a free portal where visitors can find music, movies, software games, DVD's, clothes, ISP services, Computers, Cell Phones, electronics, and gifts the entire family can enjoy.
EMAXNET.NET is powered by YAHOO (Nasdaq:YHOO) and is very excited about it's affiliation with retailers such as Amazon, Wal-Mart, The Gap, Old Navy, Brooks Brothers, Nordstroms MP3, Kmart, Toys R US, CDNOW, Target, AOL, Disney, BMG Music, Home Shopping Network, Best Buy, Tower Records, Time Life, DVD Planet, Barnes and Noble, A and E Networks, MusicMatch, eMusic, Travelocity, Expedia, Netscape and many more, http://www.store.yahoo.com/emaxnet-store .
About eMax Corporation
eMax Corporation is a holding company that operates a collection of multimedia and family entertainment content through two subsidiaries: (Freedom Entertainment International, Inc. and eMax Net, Inc.) eMax Net, Inc. has two divisions, eMax Music, and eMax Studios. The four operating areas offer technology-driven, high-quality products and services focusing in pre-recorded music, outdoor sports, special events, feature film and television program productions.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the future press releases of EMAX.